NZ food prices fall 1.3 percent in March as fruit, vegetable, groceries fall

Thu, 11 Apr 2013

April 12 (BusinessDesk) – New Zealand food prices recorded their biggest drop since October 2011 last month, led by declines in prices of apples, tomatoes, kumara, mandarins and chocolate bars. Prices fell 1.3 percent in March from February and declined 0.4 percent from March 2012, according to Statistics New Zealand. The monthly decline was the biggest in 17 months. Food prices make up about 19 percent of the consumer price index, which will be released for the first quarter on April 17 and if the Reserve Bank’s forecast is accurate, will sh...

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